Legacy Solutions LLC bought a new position in shares of Citigroup Inc. (NYSE:C - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,740 shares of the company's stock, valued at approximately $263,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of C. Core Alternative Capital increased its position in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company's stock valued at $26,000 after acquiring an additional 171 shares during the period. Northwest Investment Counselors LLC bought a new position in Citigroup in the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new position in Citigroup during the 3rd quarter valued at about $31,000. Webster Bank N. A. raised its position in shares of Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company's stock worth $35,000 after buying an additional 300 shares in the last quarter. Finally, Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 71.72% of the company's stock.
Wall Street Analyst Weigh In
C has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their target price on Citigroup from $77.00 to $86.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Morgan Stanley upped their price objective on Citigroup from $104.00 to $109.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Wells Fargo & Company lifted their target price on Citigroup from $85.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Piper Sandler reissued an "overweight" rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Finally, Barclays raised shares of Citigroup from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $83.93.
Get Our Latest Stock Analysis on C
Citigroup Stock Down 2.1 %
Shares of C traded down $1.70 during mid-day trading on Friday, hitting $79.65. 9,489,230 shares of the company's stock were exchanged, compared to its average volume of 15,424,146. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The firm has a fifty day moving average of $76.63 and a two-hundred day moving average of $68.32. The stock has a market cap of $150.63 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 0.66 and a beta of 1.44.
Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business's revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. On average, sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.
Citigroup Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Monday, February 3rd. Citigroup's dividend payout ratio is 37.65%.
Citigroup announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.
Insider Transactions at Citigroup
In other news, insider Sara Wechter sold 15,125 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the sale, the insider now directly owns 109,780 shares of the company's stock, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the transaction, the chief financial officer now owns 217,331 shares of the company's stock, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is owned by insiders.
About Citigroup
(
Free Report)
Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.
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